large gold prize on obi island for ashburton

Excellent extensive article on Ashburton by Proactive Investors.

Ashburton Minerals - Large gold prize at Obi

The highlights and interesting comments include the following;

1. A reference to our CEO/MD as Tom "Indiana Jones" Dukovcic.

2. Obi island is an extension of the neighbouring Halmahera island magnetic arc, where Newcrest have a 5 million ounce deposit.

3. Obi already hosts a productive artisanal goldfield with 1,000 miners.

4. Ashburton is upgrading the artisanal ore processing facility so that it can produce 20,000 ounces per year, with Ashburton taking 25% of this.

5. Evidence to date suggests the area has good potential to host a large scale gold deposit amenable to economic mining.

6. First up sampling of run-of-mill ore sent to Perth for analysis showed average gold grade to be 16 g/t, ranging from 4.3 g/t to 42.3 g/t plus silver, lead, copper and zinc.

7. Ashburton holds the right to acquire an 85% interest in the Obi Project.

8. High grade gold intercepts by BHP Minerals Sulawesi in 1996 returned;
- 9.15 metres at 26.25 g/t, in hole AOD 09, from 38.0 metres;
- 13.70 metres at 6.13 g/t, in hole AOD 10, from 39.4 metres; and
- 2.20 metres at 15.20 g/t, in hole AOD 07, from 78.6 metres.

9. The potential mineralised trend may extend over 10 kilometres in Ashburton's ground.

10. Assay results from the laboratory will be available in late September.

11. Near surface mining activity currently indicates the potential for around 1 million ounces of gold, for the initial area which only covers 5% of the entire strike zones.

Interesting times ahead, especially in 4 to 5 weeks when the assay results should be near release.

Gw

Sic gorgiamus allos subjectatos nunc.
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